President Trump speaks to reporters outside the White House.
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00:00Mr. President, I'm China.
00:02Do you want to talk, do you want to talk, do you want to talk tariffs?
00:07Do you want to talk tariffs quick?
00:09Do you see the markets yesterday, sir?
00:11Tariff negotiations are going very well.
00:13We're dealing with many, many countries.
00:15They all want to be involved with America.
00:19Be careful, Thomas.
00:21They all want to be involved with America.
00:23And we have a lot of action going on.
00:26We have, we're making a lot of money, this country.
00:28This country is not going to be losing money on trade anymore.
00:31We were losing $2 trillion a year on trade.
00:34Now we're going to be making money, a lot of money.
00:37So that's very good.
00:38Every country wants to partake.
00:40Even countries that have ripped us off for many, many years.
00:43China is an example, but it's not just China.
00:46European Union, they ripped us off for many, many years.
00:50And those days are over.
00:51We're going to make a lot of money for our people.
00:53We'll be able to lower taxes substantially.
00:56And we're going to be proud of ourselves.
00:58We're not going to be a laughing stock that got taken advantage of
01:02by virtually every country in the world.
01:05Mr. President, we thought you said you were going up too long for a flag.
01:11What was going on?
01:12We're putting up a beautiful, almost 100-foot tall American flag on this side and another
01:19one on the other side.
01:20Two flags, top of the line.
01:22And they've needed flagpoles for 200 years.
01:26It was something I've often said, you know, they don't have a flagpole, per se.
01:31So we're putting one right where you saw us.
01:34And we're putting another one on the other side, on top of the mounds.
01:38It's going to be two beautiful falls.
01:40And then on China, sir?
01:41On China?
01:42President Trump on China?
01:43Paid for by Trump.
01:44Mr. President, how quickly is the flag?
01:48They arrive in about a week or so.
01:50Mr. President, can you clarify, Mr. President, on China?
01:54Are you thinking about lowering their tariffs?
01:56We are going to have a fair deal with China.
01:58It's going to be fair.
01:59Are you talking to them actively now?
02:01Actively.
02:02Everything's active.
02:03Everybody wants to be a part of what we're doing.
02:06They know that they can't get away with it any longer, but they're still going to do
02:09fine.
02:10And we're going to have a country that you can be proud of.
02:13Not a laughing stock all over the world for many years.
02:16You know, in 1913, they traded to the income tax system.
02:21We used to be all tariff, and we had no income tax, and we had the wealthiest country we've
02:26ever had proportionately from about 1870 to 1913.
02:31It was all tariffs, and we did.
02:34We had more money than anybody.
02:35They had committees.
02:36How to spend the money.
02:37They had so much money, they didn't know how to spend.
02:39Then some brilliant person said, let's go income tax.
02:43Let's let the people pay.
02:44Now, we're going to be able to substantially lower taxes when this is finished.
02:49So, Mr. President, how does it look in the meantime?
02:52Are you considering lowering the tariffs on China while you're negotiating?
02:55It looks good.
02:56We were losing anywhere from $3 to $5 billion a day.
03:01Think of it.
03:02We're losing billions of dollars a day under Biden and other presidents, frankly.
03:08But under Biden, it got really worse.
03:10China got out of control.
03:12We're losing a trillion dollars a year.
03:14Trillion.
03:15Not a billion, not a million, a trillion.
03:17And now we're going to be making money with everyone, and everyone's going to be happy.
03:22But we're going to be, we're no longer going to be the country that's ripped off by every country in the world.
03:27Thank you, sir.
03:28Mr. President, can you tell us about where things stand there?